Wal-Mart lifts dividend, misses guidance views

LONDON (MarketWatch) -- Wal-Mart Stores Inc.
WMT, +0.30%
on Thursday lifted its 2014 fiscal-year dividend 18%, as income from continuing operations for the fourth quarter rose 7.9% to $5.6 billion, or $1.67 a share, up from $5.19 billion, or $1.51 a share, from the same quarter last year. Net sales rose to $127.1 billion, a 3.9% increase over last year. Analysts polled by FactSet expected earnings of $1.57 a share on sales of $127.83 billion. The Bentonville, Ark.-based retailer further said it would lift its annual fiscal-year 2014 dividend to $1.88 a share from $1.59 a share in the last year. On a same-store sales basis, the company reported a 1.3% rise for the quarter. For the first fiscal quarter of 2014, Wal-Mart expects earnings per share to come in a range between $1.11 and $1.16, below market expectations. Wal-Mart shares were 0.7% lower in premarket trade. "We know there are challenges ahead, but we believe our strong financial position, along with our EDLC and EDLP operating model, will continue to produce strong sales and returns for our shareholders," Charles Holley, executive vice president and chief financial officer said in the earnings report.

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